Global procurement professionals are facing more challenges than ever — tariffs, trade wars, environmental regulations and patent/IP protection. Fortunately, they are up to the task. Worldwide, electronics purchasing managers have an average of 16 years on the job, according to EPSNews’/Aspencore’s first global procurement study. They work more than 40 hours a week; spend a…
Flex (NASDAQ: FLEX) today announced that Lynn Torrel has been named chief supply chain and procurement officer, responsible for direct and indirect materials, transportation and logistics, business operations, materials management, and strategic supply chain management. “Having a supply chain and procurement expert of Lynn’s caliber join our team will help Flex continue to innovate our…
Extroverts command attention. They inspire confidence and always make a great first impression. That’s part of why ‘extrovert’ and ‘executive’ have become almost synonymous. There’s no denying that extroverts excel at winning over stakeholders. Recent research suggests, however, that charismatic, energetic extroverts might not always excel at driving results. A new study identifies a link…
Back in the day, when factories served as the templates for developing business processes, the distinction between direct and indirect procurement spending was pretty straightforward: direct spend was focused on the things that went into your product – raw materials, components, subcontracted manufacturing services, and so on. Indirect spend, which some have leeringly referred to…
Country-of-origin adjustments can help U.S. high-tech companies minimize geographical risks and mitigate the impact of tariffs. But the strategy can be costly, complicated and risky; and a decision that’s not easily undone. Tariffs are not going to just disappear, market experts say. Even with a delay on certain Chinese-import tariffs, the likelihood of a cease…
Businesses increasingly rely on third-party vendors and contractors to supplement their workforce, expand their capabilities and serve customers. The benefits a company realizes as a result of leveraging a range of third-party vendors are undeniable, yet doing so doesn’t come without risk. If payments, agreements and approvals aren’t properly managed, the business can be at…
Editor’s note on Special Project U.S.-China Trade War Damages Done: A permanent trade war with China has already thrust the supply chain in a mad scramble. Procurement costs have increased; partnerships have been severed; and companies have been forced to relocate manufacturing. Still, some companies see the conflict as a path toward differentiation President Trump’s…
Supply chain professionals have higher job satisfaction and salary prospects than in comparable careers, according to the Association for Supply Chain Management (ASCM), and the salary gap between men and women is narrower. In its 2019 Supply Chain Salary and Career Survey Report, the ASCM found trends remain favorable for the profession. “We are seeing…
One of the strongest brands in electronics distribution, Newark, is re-claiming its name. Beginning March 1, Newark element14 has changed its name to Newark, an Avnet Company. Customers have known the business as Newark since it was established in the 1930s, and this name change acknowledges its strong relationship with its customers and its role as a key…
The advent of processors based the RISC-V Instruction Set Architecture (ISA) is not just exciting for engineers and designers—open source hardware benefits procurement, experts said. “Open source does two things for you: it rationalizes price and motivates adoption and investment,” explained Keith Witek, senior vice president, Corporate Development, Strategy, and General Counsel at SiFive, a…